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Sporting a Zacks Rank #2 (Buy) Flowserve is expected to report its Q1 results on Monday, May 1. Flowserve’s Manufacturing-General Industrial Industry is in the top 27% of over 250 Zacks Industries.
As a leading manufacturer and aftermarket service provider of comprehensive flow control systems, Flowserve is well positioned to benefit from a strong business environment with stellar top and bottom line growth expected.
Q1 Preview: Flowserve’s first-quarter earnings are expected to soar 271% year over year at $0.26 per share compared to EPS of $0.07 in Q1 2022. Even better, the Zacks Expected Surprise Prediction (ESP) indicates Flowserve could top earnings expectations with the Most Accurate Estimate having Q1 EPS at $0.27.
Image Source: Zacks Investment Research
First-quarter sales are forecasted to be up 9% YoY at $899.73 million. More impressive, annual earnings are projected to climb 53% this year at $1.68 per share compared to EPS of $1.10 in 2022. Plus, fiscal 2024 earnings are expected to jump another 26%. Total sales are now forecasted to jump 10% in FY23 and rise another 5% in FY24 to $4.21 billion.
Also set to report its Q1 earnings on May 1 is Terex which sports a Zack Rank #2 (Buy) and its Manufacturing-Construction and Mining Industry is in the top 6% of all Zacks industries.
Solid quarterly growth is expected for Terex, a global manufacturer of aerial work platforms, materials processing machinery, and cranes. In correlation with its strong business environment earnings estimate revisions have noticeably gone up for Terex over the last quarter.
Q1 Preview: Terex’s first-quarter earnings are now projected to climb 42% year over year at $1.05 per share compared to EPS of $0.74 in Q1 2022. Better still, the Zacks ESP indicates Terex could significantly top earnings expectations with the Most Accurate Estimate having Q1 EPS at $1.18. First-quarter sales are expected to be up 13% YoY at $1.13 billion.
Image Source: Zacks Investment Research
Overall, earnings are forecasted to jump 13% in FY23 at $4.90 per share compared to EPS of $4.32 in 2022. Fiscal 2024 earnings are expected to rise another 5%. On the top line, sales are projected to edge up 7% this year and rise another 2% in FY24 to $4.82 billion.
Image Source: Zacks Investment Research
Takeaway
The post-pandemic growth and recovery is becoming attractive for these industrial products stocks. In addition to their Zacks Rank #2 (Buy), Flowserve and Terex have an overall “A” VGM Zacks Style Scores grade for the combination of Value, Growth, and Momentum as now looks like an ideal time to buy their stocks with stellar Q1 results expected.
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2 Industrial Products Stocks to Buy as Earnings Approach
The stock market has gained steam this week as earnings season has gone smoothly so far with big tech companies doing a nice leg of the work.
As quarterly results continue to roll out several industrial products stocks look very attractive ahead of their first-quarter earnings reports.
Here are two top-rated Zacks Industrial Products stocks that are expected to be beneficiaries of a strong business environment at the moment.
Flowserve (FLS - Free Report) )
Sporting a Zacks Rank #2 (Buy) Flowserve is expected to report its Q1 results on Monday, May 1. Flowserve’s Manufacturing-General Industrial Industry is in the top 27% of over 250 Zacks Industries.
As a leading manufacturer and aftermarket service provider of comprehensive flow control systems, Flowserve is well positioned to benefit from a strong business environment with stellar top and bottom line growth expected.
Q1 Preview: Flowserve’s first-quarter earnings are expected to soar 271% year over year at $0.26 per share compared to EPS of $0.07 in Q1 2022. Even better, the Zacks Expected Surprise Prediction (ESP) indicates Flowserve could top earnings expectations with the Most Accurate Estimate having Q1 EPS at $0.27.
Image Source: Zacks Investment Research
First-quarter sales are forecasted to be up 9% YoY at $899.73 million. More impressive, annual earnings are projected to climb 53% this year at $1.68 per share compared to EPS of $1.10 in 2022. Plus, fiscal 2024 earnings are expected to jump another 26%. Total sales are now forecasted to jump 10% in FY23 and rise another 5% in FY24 to $4.21 billion.
Image Source: Zacks Investment Research
Terex (TEX - Free Report) )
Also set to report its Q1 earnings on May 1 is Terex which sports a Zack Rank #2 (Buy) and its Manufacturing-Construction and Mining Industry is in the top 6% of all Zacks industries.
Solid quarterly growth is expected for Terex, a global manufacturer of aerial work platforms, materials processing machinery, and cranes. In correlation with its strong business environment earnings estimate revisions have noticeably gone up for Terex over the last quarter.
Q1 Preview: Terex’s first-quarter earnings are now projected to climb 42% year over year at $1.05 per share compared to EPS of $0.74 in Q1 2022. Better still, the Zacks ESP indicates Terex could significantly top earnings expectations with the Most Accurate Estimate having Q1 EPS at $1.18. First-quarter sales are expected to be up 13% YoY at $1.13 billion.
Image Source: Zacks Investment Research
Overall, earnings are forecasted to jump 13% in FY23 at $4.90 per share compared to EPS of $4.32 in 2022. Fiscal 2024 earnings are expected to rise another 5%. On the top line, sales are projected to edge up 7% this year and rise another 2% in FY24 to $4.82 billion.
Image Source: Zacks Investment Research
Takeaway
The post-pandemic growth and recovery is becoming attractive for these industrial products stocks. In addition to their Zacks Rank #2 (Buy), Flowserve and Terex have an overall “A” VGM Zacks Style Scores grade for the combination of Value, Growth, and Momentum as now looks like an ideal time to buy their stocks with stellar Q1 results expected.